Price is forming a falling wedge pattern. So looking to enter long. Please Note: Just knowing the direction of the next move will not help being profitable in the long run. There is a lot more to it with regards to the entry technique and trade management after entering the trade. If you look at my previous trades, 90% are impulsive moves covering about average...
Very soon there will be a trend reversal in the pair USDCAD. The current price structure is forming an ending diagonal which is going to complete the long term corrective wave A-B-C started in the month of march. The another reason for expecting a trend reversal is the bottom formation of dollar index, which clearly suggests that major reversal going to take...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.305). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . USDCAD is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance....
Please check the Long term analysis for the bigger picture; As per the bigger picture we know there is a Flat structure forming and hence we will have a downward Impulse; In short we will have a 5 Wave structure formed in the downward direction; Below is the Wave 1 complete picture verifying every Wave in the Wave 1 which confirms completion of the Wave 1 and now...
We see a downward Impulse complete and then a Correction ABC, in the upward direction which is Wave A; Wave B will be a downward correction as Wave B is in counter Trend direction; also we see in Wave B we have a Wave A as a 3 Wave structure Wave B also is a 3 Wave structure hence Wave C will be a downward Impulse and thus Wave B will complete. Hence we are...
The Market has a clear RSI Divergence in the 2 hour time frame & we have a CAD news coming up tonight. The Overall Day trend in Downside & Potentially its time for a Reversal. The Market has respected the Pitchorks' previously in this entire trend. Lets wait until we get a clear candle confirmation in 1hr time frame. Let me know if any. Regards, Kishore Frederick
#USD/CAD make a buy setup with a double top . make a buy formation.
#USD/CAD make a bear flag formation. sell setup.
#USD/CAD make a large bear flag formation.
I think it'll terminate, which is high probable scenario...
USDCAD go short if trendline breaks
level and forecasts are explain on chart FX:USDCAD
Great support has shown and now time to get long on this!